BREAKDOWN: If Prices Keep Going Up, We Might Have to Start Calling It Inflation

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4.7 • 698 Ratings

🗓️ 10 May 2021

⏱️ 14 minutes

🔗️ Recording | iTunes | RSS

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Summary

Every day sees new reports of prices going up – from commodities to plastic to fruit. Are we ready to use the “I” word? This episode is sponsored by Nexo.io and Bitstamp. Today on the Brief: Elon Musk saves an SNL flop with a dogecoin satellite Growing interest in Ethereum UBS explores offering crypto to wealthy clients Our main discussion: The Wall Street Journal and Bloomberg are both running headlines about increasing consumer prices. For now, most pieces like these remain a healthy combination of spot data (in other words specific companies raising prices) and anecdotes versus aggregate data. That isn’t stopping a new inflation narrative from forming, however. Listen to find out what it means. - Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io. - Bitstamp is the world’s longest-running cryptocurrency exchange, supporting investors, traders and leading financial institutions since 2011. With a proven track record and dedication to personal customer service with a human touch, Bitstamp’s fast, secure and reliable crypto investing platform is trusted by over four million people worldwide. To learn more, visit www.bitstamp.net. - Join thousands of newsmakers and influencers talking the future of money at Consensus 2021, a live virtual experience from CoinDesk. (Use discount code "BREAKDOWN" to save $25!) - Image credit: Galina Sandalova/iStock/Getty Images Plus See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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0:00.0	One thing that seems for sure is that the dynamics are all coming together.
0:04.1	Higher wage growth, higher prices, and continued issues with commodities and supply chains
0:08.1	that all combined can foment exactly the type of inflationary cycle that has been pushing
0:13.1	big institutions to Bitcoin.
0:15.1	What's more, market actors are validating this point of view.
0:20.3	Welcome back to The Breakdown with me, NLW.
0:24.5	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
0:30.6	The breakdown is sponsored by nexor.io and BitStamp and produced and distributed by CoinDest.
0:37.7	What's going on, guys? It is Monday, May 10th, and today we are talking inflation.
0:44.2	First up, however, let's do the brief.
0:46.4	First on the brief today, how did it go with Elon Musk on SNL?
0:51.6	Well, basically Doge started almost immediately tanking when everything on the show
0:56.3	wasn't about it. Elon did mention Doge, but the most extended bit about it was during the
1:01.8	weekend update segment, which is pretty deep into the show. Also on that segment, he called it a hustle.
1:08.3	You could see the internet's betrayal written all over their faces,
1:11.5	aka their tweets, and the price of Doge fell something like 30% while he was actually on it.
1:17.0	People felt sad, they felt betrayed, and they realized that Saturday Night Live is truly an
1:22.0	unfunny show. But then there was, of course, a new twist in the story. On Sunday, Elon tweeted,
1:28.3	SpaceX launching satellite Doge 1 to the moon next year. Mission paid for in Doge,
1:33.0	first crypto in space, first meme in space, to the moon. Basically, a Canadian-based company
1:39.4	is paying entirely in Dogecoin to hitch a ride onboard board a space X satellite. With that news,
1:46.2	Doge has started to regain some of what it lost, so who knows? Can it still make a run at $1?
	...

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